Myers Industries, Inc. (MYE) Given Average Rating of “Hold” by Analysts

Shares of Myers Industries, Inc. (NYSE:MYE) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $22.33.

MYE has been the subject of a number of research analyst reports. TheStreet downgraded shares of Myers Industries from a “b” rating to a “c-” rating in a report on Thursday, November 8th. ValuEngine downgraded shares of Myers Industries from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. Cowen initiated coverage on shares of Myers Industries in a report on Friday, September 28th. They set a “market perform” rating for the company. KeyCorp reaffirmed a “sector weight” rating on shares of Myers Industries in a report on Tuesday, August 28th. Finally, Zacks Investment Research raised shares of Myers Industries from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a report on Wednesday, September 12th.

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A number of large investors have recently modified their holdings of MYE. BlackRock Inc. raised its position in Myers Industries by 27.1% in the 3rd quarter. BlackRock Inc. now owns 5,079,461 shares of the industrial products company’s stock worth $118,098,000 after purchasing an additional 1,083,340 shares during the period. Gabelli Funds LLC increased its position in shares of Myers Industries by 26.1% in the second quarter. Gabelli Funds LLC now owns 1,860,676 shares of the industrial products company’s stock valued at $35,725,000 after acquiring an additional 385,200 shares during the period. Teton Advisors Inc. increased its position in shares of Myers Industries by 57.4% in the second quarter. Teton Advisors Inc. now owns 1,027,900 shares of the industrial products company’s stock valued at $19,736,000 after acquiring an additional 374,836 shares during the period. Renaissance Technologies LLC increased its position in shares of Myers Industries by 47.9% in the second quarter. Renaissance Technologies LLC now owns 741,500 shares of the industrial products company’s stock valued at $14,237,000 after acquiring an additional 240,100 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of Myers Industries in the second quarter valued at about $3,784,000. Institutional investors own 88.45% of the company’s stock.

NYSE MYE opened at $16.23 on Friday. Myers Industries has a 52-week low of $15.25 and a 52-week high of $25.70. The company has a quick ratio of 1.46, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The firm has a market cap of $569.53 million, a PE ratio of 31.82 and a beta of 1.98.

Myers Industries (NYSE:MYE) last posted its quarterly earnings data on Tuesday, November 6th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. Myers Industries had a negative net margin of 4.21% and a positive return on equity of 18.40%. The company had revenue of $135.22 million during the quarter, compared to the consensus estimate of $135.08 million. During the same period in the previous year, the firm posted $0.11 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, equities analysts expect that Myers Industries will post 0.72 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Friday, December 7th will be given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Thursday, December 6th. Myers Industries’s payout ratio is presently 105.88%.